STMicroelectronics reports first quarter 2011 results

Italian-French semiconductor manufacturer STMicroelectronics has reported its financial results for the first quarter ended 2 April 2011, in which net revenues increased nine per cent year-over-year to reach $2.53bn (£1.55bn).

Gross margin came to 39.1 per cent, up 140 basis points from 2010’s first quarter, while net income increased to $170m.